UNDP, EIB reconfirm financial support for energy efficiency

14:37 | 14.06.2017 Category: Economic

Chisinau, 14 June /MOLDPRES/- The United Nations Development Programme in Moldova (UNDP) and the European Investment Bank (EIB) have reconfirmed their willingness to financially support projects in the energy efficiency in the public and residential sectors, the Economics Ministry’s communication and public relations service has reported.

“Transfer of expertise and good practices between national authorities and development partners on the implementation of the project “Unlocking Building Energy Efficiency Retrofit Market in Moldova” will ensure consolidation of the local capacities in the energy efficiency”, Deputy Economics Minister Vitalie Iurcu said at a meeting with representatives of the two institutions.

The high cost of financial resources, lack of an adequate legal framework on activity of owners’ associations, administrative barriers, poor awareness of the importance of energy efficiency, phenomenon of energy poverty discourage investment in increasing energy efficiency in the public and private sectors, he said.

The official noted that the national authorities with the support of UNDP and EIB through this project have proposed a thorough approach to all these issues.

The UNDP, as the agency accredited under the Green Climate Fund, will submit project proposal for funding to the fund in June this year, following that shortly a position of principle on the opportunity to implement such an initiative in Moldova should be got, UNDP Resident Representative for Moldova Dafina Gercheva said.

Attending the event were also UNDP Deputy Resident Representative Stefan Liller and Head of the EIB Representation to Moldova Antonio Castillo.

The project “Unlocking Building Energy Efficiency Retrofit Market in Moldova” aims at unlocking funding for public and residential buildings by creating a comfortable legal framework and a favorable investment climate. Also, attracting additional financial resources from global initiatives to address environmental issues, such as the Green Climate Fund. Thus, the expected budget of the initiative is 86 million euros, of which 60 million euros provided by the EIB and 26 million euros as grant resources from the fund.

(Reporter V. Bercu, editor L. Alcază)

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